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Tesla Launches UK Energy Plan With Low Power Rates

Tesla is offering its Tesla Energy Plan in the UK designed for homes with solar and Powerwall that will turn them into virtual power plants to produce clean energy.

The Tesla Energy Plan is an energy tariff for homes with solar and Powerwall installed, which could provide to customers savings of up to 75 percent compared to the electricity tariffs of the biggest UK power providers, based on electricity consumption of 8,000 kWh/year, Tesla says on its UK website. 

Customers are eligible for Tesla’s tariff if they own a Tesla vehicle and an electric vehicle (EV) charger installed at home or are able to have one installed, solar panels and powerwall installed or a home suitable for this, and residential electricity supply.

Tesla Energy Plan, powered by Tesla’s retail partner Octopus Energy, will allow customers in the UK to become part of the UK Tesla Virtual Power Plant and join a network of homes that generate, store, and return solar energy to the grid during peak times, Tesla said.

Tesla’s chief executive officer Elon Musk has recently said that he expects Tesla Energy to become as large as Tesla’s automotive business in the long term.

“I mean the energy business collectively is bigger than the automotive business. So you say like, how big is the energy sector? Bigger than automotive,” Musk said on the earnings call for the Q2 results in July.

“In order to achieve a sustainable energy future, we have to have sustainable energy generation, which I think is going to be primarily solar and by wind and those are intermittent. So you need to have a lot of batteries to store the energy because the wind doesn’t always blow and the sun doesn’t always shine,” he added.

The three key elements of a sustainable energy future are wind and solar for sustainable energy generation, battery storage, and electric transport, Musk said.

By Tsvetana Paraskova for Oilprice.com

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